In this work homogeneous and adherent nanocomposite of polypyrrole (PPY) with $Na^+$-Cloisite nanoclays was successfully prepared by insitu electropolymerization of pyrrole monomer in the presence of $Na^+$-Cloisite nanoclays. Formation of nanocomposite and incorporation of nanoclays in polypyrrole matrix was endorsed and characterized by FTIR spectroscopy studies, X-ray diffraction (XRD) pattern and scanning electron microscopy (SEM). The X-ray difraction patterns showed that PPY was intercalated between clay layers in the order of nanoscale. The morphology of the resulted nanocomposite was studied by scanning electron micrograph (SEM). Cyclic voltammetry experiments were carried out in different electrolytes and showed that nanocomposite is electroactive, while conductivity of the nanocomposite derived from four point probe technique indicated that the resulted nanocomposite is conductive. The anticorrosive properties of a thin layer coating of PPY/$Na^+$-Cloisite nanocomposite on iron coupons was evaluated and compared with pure polypyrrole coating. According to the results in various corrosive environments PPY/$Na^+$-Cloisite nanocomposite has enhanced corrosion protection effect in comparison to pure polypyrrole coating. It was observed that the corrosion protection effect was due to the dispersion of nanoclays in polymer matrix, which results in the increase in the corrosion potential and decrease in corrosion current and corrosion rate.